KTDFC yet to finalise contract for KSRTC project.

The Kerala Transport Development Finance Corporation (KTDFC) is yet to finalise the contract to lease the commercial space of the new bus terminal of the Kerala State Road Transport Corporation (KSRTC) on the Mavoor Road here.

It is learnt that the KTDFC, which had invited tenders last month, had received bidders including a Mukkom-based company and the Kerala Land Reforms and Development Cooperative Society (LADDER) of the Calicut City Service Cooperative Bank.

'Many have expressed interests in the project. But we have not finalised the tenders,' KTDFC Managing Director Usha Devi Balakrishnan told The Hindu recently.

The KTDFC had been compelled to invite tenders for the third time relaxing some of the stringent norms after failing to finding suitable bidders.

The government prefers to hand over the building either to an individual or any group who in turn could rent out the rooms to other retailers on its own rates.

The contractor will also be allowed to choose the investment pattern and the rent.

Earlier the norm was that the bidder should take the building on rent with an investment of Rs.73 crore for 15 years.

Besides, the contractor should pay monthly rent of Rs.1.83 crore to the KTDFC. The contract period was revised to 30 years when tenders were invited the second time.

Sources said that a private firm had agreed to invest Rs.50 crore, pay a monthly rent of Rs.50 lakh and hike the rent by 10 per cent every three years.

LADDER had agreed to invest Rs.20 crore, pay a monthly rent of Rs.75 lakh and hike the rent by 12 per cent every year.

Officials said that the contractor could easily obtain the amount by subletting the commercial space in the heart of the city.

The entire KSRTC terminal has a total space of 3,87,747 sq ft.

The 11-storey commercial space is 2,18,716 sq ft.

The complex in two towers has space for setting up shops, offices, super markets, multiplex, food courts and IT and ITES business. It has parking for about 100 cars.


THE HINDU